Financial Data and Key Metrics Changes - Consolidated net revenue for fiscal year 2025 increased by 30.7% to $26.6 million, compared to $20.3 million in fiscal year 2024 [23][25] - Gross profit rose to $17.7 million from $14.2 million, with a consolidated gross margin of 66.5%, down from 69.8% in the previous year [25][26] - Operating income increased by 26.6% to $4.5 million, with an operating margin of 17.1%, slightly down from 17.6% [28] Business Line Data and Key Metrics Changes - Marine technology business revenue increased by 3.2% to $13.2 million, contributing 49.8% of consolidated net revenue [4][23] - Defense engineering services revenue rose by 5.6% to $7.9 million [25] - The newly acquired Acoustic Sensors and Materials business generated $5.4 million, contributing 20.4% to consolidated net revenue [23][11] Market Data and Key Metrics Changes - In the marine technology business, 46% of revenue came from the defense sector, while 54% was from the commercial marine sector [9][31] - Hardware sales increased by 30.5% to $9.5 million, with significant growth in Asia, where sales rose by approximately 7.7% [9][10] Company Strategy and Development Direction - The company aims to pivot its revenue model towards a multi-year program-based adoption model, focusing on recurring sales and long-tail revenue [33] - The launch of the NanoGen series sonar is positioned as a core real-time perception sensor for AI-enabled autonomous platforms [32][14] - The company is actively seeking to complete acquisitions to enhance growth and shareholder value [64] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth in the defense sector, which is seen as a key area for future revenue [31][60] - The company anticipates that procurement decisions for active opportunities will be made in early 2026, with initial deliveries expected to align with customer deployment schedules [17][16] - Management highlighted the importance of broader adoption of DAVD technology outside the U.S. as a critical benchmark for growth [47] Other Important Information - The company had $28.7 million in cash and cash equivalents as of October 31, 2025, with no debt [29] - Total operating expenses increased by 24.0% to $13.1 million, primarily due to the addition of Precision Acoustics Limited and currency translation effects [27] Q&A Session Summary Question: Updates on deliveries to the Indian Navy - Management was unclear about the Indian Navy deliveries and did not confirm any new customer relationships [35] Question: Progress in Europe regarding DAVD systems - Management confirmed the delivery of two systems to a European navy and expressed excitement about potential larger orders following training [36][37] Question: Cumulative deliveries of the untethered DAVD system - In fiscal 2025, the company achieved $3.7 million in DAVD revenue and anticipates beating this in fiscal 2026, pending approval for operational use [39][40] Question: Offshore commercial demand environment outlook - Management noted a significant uptick in rental opportunities in Q4 and emphasized the importance of the defense market for future growth [59][60]

ORLANDO, FL, Jan. 29, 2026 (GLOBE NEWSWIRE) -- Coda Octopus Group, Inc. (“CODA” or the “Company”) (Nasdaq: CODA) a global market leader in real-time 4D/5D/6D imaging sonar technology and AI-enabled real-time subsea imaging and enhanced situational awareness for manned and autonomous platforms and advanced augmented diving technology, today reported its audited financial results for its fiscal year ended October 31, 2025 (FY2025). Annmarie Gayle, CODA’s Chairman and CEO, commented: “I am pleased with our ove ...